The Romanian state strengthens its position among the shareholders of Fondul Proprietatea. Update on the Fund’s share capital

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An important move took place today regarding the shareholders and its consequences on the administration of Fondul Proprietatea.
According to a press release to the Bucharest Stock Exchange, FP shows:
“Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager and sole director (”AIFM / Fund Manager”) of Fondul
Proprietatea S.A. (“Fund”), would like to inform shareholders and investors that, on 1 February 2022, the Romanian State, represented by the Ministry of Public Finance paid RON 189,182,422.00 to the Fund, as payment for all unpaid shares owned by the Romanian State in the Fund (as at 31 January 2021, the Romanian State held
363,812,350 unpaid shares, each share having a nominal value of RON 0.52). The payment mentioned above was performed in exercise of the Romanian State’s rights under Law 247/2005 on the reform in the fields of property and justice, as well as
some adjacent measures,
Consequently, as of 1 February 2022, the new value of the Fund’s subscribed and paid-up share capital is RON 3,334,342,422.84 (divided into 6,412,196,967 shares with a nominal value of RON 0.52/share).
The Fund Manager will initiate the registration process of the new paid-up share capital with the Trade Registry, the Financial Supervisory Authority and the Central Depository and will keep its shareholders and investors updated on the process.”
The following were sent from the Romanian Government:
In the opening of today’s Government meeting, 02.02.2022, Adrian Câciu, Minister of Finance. reported that the Ministry of Finance transferred the unpaid share capital for 17 years to Fondul Proprietatea (FP), thus becoming a shareholder of Fondul Proprietatea and “closing a historical chapter.”
“The Ministry of Finance, as a representative of the state, fulfilled its role provided by law 31 of companies, and transferred the unpaid share capital for 17 years to Fondul Proprietata, thus becoming a shareholder of Fondul Proprietata and closing a historical chapter, an approach that it was expected by all financial institutions that have a monitoring character, such as ASF “, he said.
At the moment, says Câciu, the Ministry of Finance is a shareholder of Fondul Proprietatea and “we will analyze together the evolution of F.P.”
The Romanian state paid the 189.1 million lei, representing the payment for all unpaid shares held by the Romanian state in FP. As a percentage, it is about 5.78% of the share capital, which until now represented, in fact, the rights of the Ministry of Finance.
Starting this year, the Ministry of Finance will be able to enjoy full rights in terms of shareholder status, especially in terms of money: these are big dividends, with many companies in the FP portfolio going to record significant profits.

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